Gearbox DAO

Summary:

This snapshot vote aims to approve the continuing OBRA framework which lets the DAO function like a decentralized and less controlled, asynchronous organism.

Proposal:

This proposal aims to continue the previously enacted 2023 OBRA framework, based on 3-month cycles. So far, all initiatives have worked reasonably well and delivered timely reports on the work performed and the amounts spent. There has been no abuse of the system so far. The USD amounts and the GEAR amounts are to stay as is, and the benchmark for GEAR bonuses is also believed to be at $150M FDV being $0.015.

RULE NOTE: as mentioned in 2023, those who chose the x2 multiplier last year and stayed until now - can now switch to the x1.25 multiplier with the condition of 3 months cliff + 9 months linear vesting. Or they can stay on the x2 multiplier with the condition of 18 months linear vesting which starts in February 2025. The penalty for dropping off early if 2x is chosen will continue staying at 0.5x pro rata, but this time (for the previous contributors) it will be applied from the supposed x1.25 base rate, so x0.5 from x1.25 means that 0.625 of the usual reward is to stay (0.375 is slashed and not a half like before). These members report in the same way as before, as can be seen in Notion. No changes to that system per se, just adding more asynchronicity (is that even a word?). Onboarding a new contributor to the Multiplier System within an initiative can be voted on out of schedule any time, the same goes for off-boarding.

Contributor / Initiatives	Function	USD at x1 / month
Mugglesect	Marketing Lead	8000
Amplice	Marketing & Videos	7000
Nikitakle	Community & DAO Ops	4000
Overkoalafied	Tokenomics Brainiac	5000
Allindots	Illustrator	3000
Harsh	Backend Development	8000
DLTExperts	Fullstack Contributor	25000
Rising Vista	Product and marketing	7000
SC Core Initiative	Development	20000
Frontend Initiative	Development	20000

Multisigs as “Guards”

The compensation will remain unchanged. 1M GEAR for technical multisig, 1M for financial multisig.

The previous proposal

DAO Monthly Reports

DAO cycle structure